Published by: Al-Monitor on Wednesday Libya’s financial crisis has forced many citizens to rely on payment cards amid the collapse of the financial system, following over a decade of instability and war. According to Al-Monitor, cash withdrawals have become an arduous process, with long queues of hundreds of people waiting outside heavily guarded banks. Often, […]
Bloomberg reported today, Tuesday, that Libya accounted for most of the increase in oil production for the Organization of Petroleum Exporting Countries (OPEC) for the second consecutive month. Bloomberg confirmed that OPEC produced more than 27 million barrels of crude oil per day in November, an increase of 120,000 barrels compared to October, following Libya’s […]
Hisham Al-Harati, Legal Advisor for the “Zaykom Zina” Organization for the Rights of Persons with Disabilities, wrote: “On this International Day of Persons with Disabilities, while the world celebrates, in Libya, the day often becomes an occasion for fleeting sentimentality, filled with exaggerated expressions of empathy from officials and decision-makers. Sadly, these emotions are often […]
Economic expert Mohamed Al-Safi published an article on his page, discussing the use of information as a monetary tool in Libya. When monetary tools are mentioned, discussions often focus on traditional instruments such as interest rates or exchange rates. However, positive and disciplined communication with the market is an equally significant monetary tool. The new […]
The economic expert Ibrahim Wali authored an article discussing the Central Bank of Libya, emphasizing that the institution is far more than just a governor, deputy governor, and staff. It represents a collective of minds with scientific knowledge and extensive expertise in monetary, economic, commercial, and legal matters. Operating as a structured institution, the bank […]
The “African Energy” website has disclosed Libya’s demand to the U.S. Departments of State and Treasury in Washington for more than $60 billion worth of Libyan assets, which Tripoli claims were secretly invested in U.S. Treasury bonds by the regime of Muammar Gaddafi. According to the site, a delegation led by LarMo’s General Director for […]
The Central Bank of Libya exclusively revealed to our source that a flight has just departed from Tripoli to Benghazi carrying a cash shipment valued at 50 million dinars. Of this amount, 20 million has been allocated to support the treasuries of Sahara Bank branches in the city, and 30 million is designated for North […]
Our source has obtained a circular issued by the Central Bank of Libya to commercial banks regarding regulations for setting purchase limits based on individual salaries. The goal is to facilitate salary disbursement before funds are deposited into banks and to promote electronic payments. The regulations stipulate that banks must establish purchase limits through electronic […]
The French intelligence website Africa Intelligence reported on Monday that the Turkish oil company “BGN” has established itself as a major player in Libya’s oil sector. The Dubai-based company, led by “Roya Baycan,” has succeeded in acquiring the majority of crude oil in Libya. The website further stated that the Turkish company has become one […]
Financial expert Khaled Al-Zentouti penned an article in which he stated: “The 2023 Audit Bureau report spans 570 pages, each one deserving of a case, a prosecutor, a judge, a prison, prisoners, and a jailer.” He highlighted that the report contains 19 chapters and 579 pages, mostly detailing negative aspects such as resource mismanagement, violations, […]
The Spanish Consul in Libya, Juan Torres, told our source today, Thursday, that “Regarding the resumption of Spanish Airlines, we currently have no information about the airline returning to operate in the capital, Tripoli.” The consul assured our source that “There is no difficulty for Libyan citizens in obtaining a Spanish visa as long as […]
An oil source, who preferred to remain anonymous, told our source: “What is taking place is a settlement process in exchange for fuel supplies. This mechanism has been in place for nearly two years before the current management board of the corporation took office and was approved by a Cabinet decision. The current board, which […]
The Central Bank of Libya revealed in an exclusive statement to our source that it has dispatched 15 million LYD in cash to the southeastern city of Kufra. The allocation includes 7 million LYD designated for branches of Wahda Bank, 4 million LYD for the safes of North Africa Bank branches, and 4 million LYD […]
Legal advisor Hisham Al-Harati exclusively told our source: “Any increase in the salaries of state employees must be carried out in accordance with economic and legal controls that ensure financial balance for the state.” He added: “Raising salaries without a corresponding increase in public revenues poses a direct threat to financial stability and could lead […]
A foundational meeting took place today, Tuesday, in Rome between the senior management of Simest, a company affiliated with the Italian Deposit and Loans Fund that focuses on fostering international growth for Italian companies, and the Libyan Foreign Bank, an institution fully controlled by the Central Bank of Libya, with revenue from the sale of […]
